Tesla takes another step towards launch in India

    NEW DELHI (Reuters) – Tesla Inc has taken a step closer to its launch in India later this year by registering a company in the country, a regulatory statement showed Tuesday.

    Tesla Motors India and Energy Private Limited was formed on January 8 with its registered office in the southern city of Bengaluru, a hub for several global technology companies.

    The document shows that the Indian unit has three directors including David Feinstein, who is currently a senior executive at Tesla, according to his LinkedIn profile.

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    Indian Transportation Minister Nitin Gadkari told a local newspaper in December that the US electric carmaker will start with sales and then could look into assembly and production.

    Tesla CEO Elon Musk has tweeted several times in recent years, including as recently as October 2020 about an upcoming foray into India.

    The move comes as Indian Prime Minister Narendra Modi is promoting the production and use of electric vehicles to reduce the country’s oil dependency and reduce pollution.

    But the efforts were hampered by a lack of investment in manufacturing and infrastructure such as charging stations.

    To boost investment, India plans to offer $ 4.6 billion in incentives to companies setting up advanced battery manufacturing facilities, according to a government proposal seen by Reuters.

    Aditi Shah reporting. Editing by Mark Potter

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